He was also wrong about the BP Gulf Oil disaster being a catastrophe of biblical proportions in claiming that there was a big fissure that could rupture, and he will prove to be wrong — along with all the other Doomsday preachers — about a catastrophe around the end of 2012, coinciding with the end of the Mayan calendar, in claiming that the U.S. dollar would be dead within two weeks after the Euro allegedly collapses by the end of this year.

On December 14, 2010, Porter Stansberry of Stansberry Research Associates released a video called “The End of America.”

In it, he made the claim (at 6:18):

“Let me back up and show you in the simplest terms possible what is going on, why I am so concerned… and what I believe will happen in the next 12 months.“

He then went on to talk about the end of the U.S. dollar as the world’s reserve currency (13:40).

“The U.S. dollar has been the world’s reserve currency for decades now. So most Americans don’t have a clue about what the repercussions are of losing this status.“

Commenting on the likelihood of Stansberry’s prediction much earlier than October 2011 wouldn’t have been that useful, as we learned in 2008, when the U.S. stock market was relatively high prior to September, before things began to massively collapse.

And, obviously a prediction much later than now wouldn’t be of much value either. Therefore, on October 23, 2011, I predict that Stansberry’s prediction is likely not to come true.

Eventually, the U.S. dollar will lose its status as the world reserve currency, since nothing lasts forever, and especially not a currency whose status is imposed through artificial forces, and not market forces.